SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Blatte Lawrence A (Last) (First) (Middle) 612 EAST GRASSY SPRAIN ROAD (Street) YONKERS NY 10710 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol TBS International plc [ TBSI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Senior Exec. Vice President
	3. Date of Earliest Transaction (Month/Day/Year) 08/05/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Ordinary Shares, par value $0.01 per share	08/05/2011		A		12,196(1)	A	$0.00	172,486	D
Class A Ordinary Shares, par value $0.01 per share								50,307(2)	I	By spouse Barbara H. Blatte

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series B Preference Shares, par value $0.01 per share	(3)							(3)	(3)	Class B Ordinary shares, par value $0.01 per share	36,553		1,426	D
Class B Ordinary Shares, par value $0.01 per share	(4)							(4)	(4)	Class A Ordinary shares, par value $0.01 per share	177,039		177,039	D
Class B Ordinary Shares, par value $0.01 per share	(4)							(4)	(4)	Class A Ordinary shares, par value $0.01 per share	176,656		176,656(2)	I	By spouse Barbara H. Blatte
Class B Ordinary Shares, par value $0.01 per share	(4)							(4)	(4)	Class A Ordinary shares, par value $0.01 per share	18,293		18,293(2)	I	By the Barbara H. Blatte 2006 Qualified Grantor Retained Annuity Trust
Series A Preference Shares, par value $0.01 per share	(5)							(5)	(5)	Class A Ordinary shares, par value $0.01 per share	167,131		3,326	D

Explanation of Responses:

1. Restricted Class A Ordinary Shares were granted to the individual on August 5, 2011 and will vest in two equal annual installments beginning July 31, 2012.

2. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

3. Series B Preference Shares are convertible into Class B Ordinary Shares on a 25.6333-for-1 basis at any time and have no expiration date. If the Series B Preference Shares remain outstanding, the applicable conversion rate will change as follows: 26.4023-for-1 beginning December 31, 2011; 27.1944-for-1 beginning June 30, 2012; 28.0102-for-1 beginning December 31, 2012; 28.8505-for-1 beginning June 30, 2013; 29.7161-for-1 beginning December 31, 2013; 30.6075-for-1 beginning June 30, 2014; and 31.5258-for-1 beginning December 31, 2014.

4. Class B Ordinary Shares currently are convertible into Class A Ordinary Shares on a one-for-one basis at any time and have no expiration date.

5. Series A Preference Shares are convertible into Class A Ordinary Shares on a 50.2500-for-1 basis at any time and have no expiration date. If the Series A Preference Shares remain outstanding, the applicable conversion rate will change as follows: 51.7575-for-1 beginning December 31, 2011; 53.3102-for-1 beginning June 30, 2012; 54.9095-for-1 beginning December 31, 2012; 56.5568-for-1 beginning June 30, 2013; 58.2535-for-1 beginning December 31, 2013; 60.0011-for-1 beginning June 30, 2014; and 61.8012-for-1 beginning December 31, 2014.

Remarks:

	/s/ Tara C. DeMakes Name: Tara C. DeMakes Attorney-in-Fact	08/09/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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